Navigation Links
CVS Caremark Statement and Response to CMS Action
Date:1/18/2013

WOONSOCKET, R.I., Jan. 18, 2013 /PRNewswire/ -- CVS Caremark (NYSE: CVS) is working to resolve service issues related to its SilverScript Medicare Part D Prescription Drug Plan.  Issues with SilverScript enrollment processing resulted from an enrollment system conversion and brought about an increase in call volume and issues related to claims processing, including, in some instances, not being able to have claims adjudicated at the pharmacy.  As a consequence, the Centers for Medicare and Medicaid Services (CMS) has placed SilverScript on intermediate sanctions, effective as of 11:59PM EST January 15, 2013. 

(Logo:  http://photos.prnewswire.com/prnh/20090226/NE75914LOGO )

Enrollment of any Medicare beneficiaries in the SilverScript plan and all marketing activities have been suspended.  The CMS action does not affect current SilverScript members and these beneficiaries will continue to have access to covered services.  Existing employer group health plans are not affected by this action; CVS Caremark health plan clients are not affected by this action. The company estimates that the sanctions should not have a material impact on its 2013 earnings.

"We take these issues very seriously and are committed to working swiftly with CMS officials to address their areas of concern," said Jon Roberts , President of the pharmacy benefit management business of CVS Caremark. "We also want to commit to members who experienced enrollment issues that we will resolve these expeditiously."

About CVS Caremark
CVS Caremark is dedicated to helping people on their path to better health as the largest integrated pharmacy company in the United States. Through the company's more than 7,400 CVS/pharmacy stores; its leading pharmacy benefit manager serving more than 60 million plan members; and its retail health clinic system, the largest in the nation with more than 600 MinuteClinic locations, it is a market leader in mail order, retail and specialty pharmacy, retail clinics, and Medicare Part D Prescription Drug Plans.  As a pharmacy innovation company with an unmatched breadth of capabilities, CVS Caremark continually strives to improve health and lower costs by developing new approaches such as its unique Pharmacy Advisor program that helps people with chronic diseases such as diabetes obtain and stay on their medications.


'/>"/>
SOURCE CVS Caremark
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. CVS Caremark Corporation to Hold First Quarter 2012 Conference Call
2. CVS Caremark Reports Record First Quarter Results
3. CVS Caremark Sponsored Research Finds FDA Drug Warnings Can Have Immediate Negative Impact on Medication Adherence, Even if Not Related to Safety
4. CVS Caremark Research Identifies Positive Link Between Medication Adherence and Employee Productivity
5. CVS Caremark Charitable Trust Partners with National Association of Community Health Centers to Create Innovative Grant Program Focused on Managing Chronic Disease
6. CVS Caremark To Present At Goldman Sachs 2012 Global Retailing Conference
7. CVS Caremark to Present at Morgan Stanley Global Healthcare Conference
8. CVS Caremark Corporation Announces New Share Repurchase Authorization for up to $6 Billion of Common Stock
9. CVS Caremark Donates More Than $100,000 to Hurricane Sandy Relief Efforts
10. CVS Caremark To Present At Lazard Capital Markets 9th Annual Healthcare Conference
11. CVS Caremark Reports Third Quarter Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/27/2016)... April 27, 2016 Oasmia ... developer of a new generation of drugs within ... survival results for Paclical/Apealea in the Phase III ... with epithelial ovarian cancer. These preliminary results showed ... combination with carboplatin versus Taxol in combination with ...
(Date:4/26/2016)... , April 26, 2016 Diplomat Pharmacy, ... of Jennifer Hagerman , Pharm D., to Vice ... growing role at Diplomat, Hagerman will continue to lead ... company that delivers custom education and training to Diplomat ... specialty pharmacy industry. Diplomat University also houses the quality ...
(Date:4/26/2016)... , April 26, 2016 Research ... and Credit Risk Analysis of the Biological Medicine Industry ... This comprehensive report analyzes the financial assessment and credit ... China . The report provides readers with an ... all market participants should be aware of. It considers ...
Breaking Medicine Technology:
(Date:4/28/2016)... ... 2016 , ... One way to ignore solid evidence is to dismiss research ... toss the baby out with the bathwater when we ignore all studies because some ... and otherwise making better use of education policy research. , “When readers heed basic ...
(Date:4/28/2016)... (PRWEB) , ... April 28, 2016 , ... USA Medical Card reminds us that May ... (CDC), a stroke is the fourth leading cause of death in the United States; someone ... almost a quarter of them in individuals under 65 years old. A stroke is ...
(Date:4/28/2016)... ... April 28, 2016 , ... ... today announced a new Residency Education & Collaboration Platform for hospitals and ... resources, and a host of collaboration tools designed to improve patient outcomes ...
(Date:4/28/2016)... ... 2016 , ... A first-time look at workers’ compensation claims in Kentucky found ... Compensation Research Institute (WCRI) announced, and that costs per claim were stable between ... Edition , found that indemnity costs per claim and benefit delivery expenses per claim ...
(Date:4/28/2016)... , ... April 28, 2016 , ... ... has partnered with Community Oncology Pharmacy Association (COPA) to develop a comprehensive Specialty ... of oncology by introducing an accreditation distinction. ACHC provides a wide range of ...
Breaking Medicine News(10 mins):